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Letter: YOUR SHOUT - Bailing out yet another failure.


HERE we go again, now ifs Bradford & Bingley going bust. So what does the Government do?

As a good socialist government they have decided to turn to nationalisation. Northern Rock nationalised. Bend the rules that were set up to protect the tax payer and allow Lloyds TSB to take over HBOS.

As a socialist I believe in nationalisation, but not just to bail out fat cat bankers and stock market sharks and spivs.

If nationalisation is the order of the day, why not re-nationalise companies that make a profit and not those that have gone bust? We - that is the taxpayer - are to spend pounds 40bn on the rescue of Bradford & Bingley.

God alone knows what we have spent on Northern Rock. So let's nationalise something that will reward the taxpayer - gas/oil/electric supplies, water companies, British Rail, British Airways, British Telecom, hospital cleaning services, steel works, motor car industries and, dare I say it, coalmines.

The last time the fat cat bankers were crying out for help was when the threat of windfall taxes were to be taken from them.

If a bank/building society has a customer who is in arrears they bankrupt them, they never show any sympathy at all. But when they face the same problem they want to be bailed out by the taxpayer.

GEORGE HERSCHEL, Northumberland.
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Title Annotation:Letters
Publication:Evening Chronicle (Newcastle, England)
Date:Sep 30, 2008
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